Compliance Officer

Richemont - Dubai

Reference Code: 47704 Compliance Officer Richemont Dubai, DU, AE Permanent

Richemont owns some of the world’s leading luxury goods Maisons, with particular strengths in jewellery, fine watches and premium accessories. Each Maison represents a proud tradition of style, quality and craftsmanship and Richemont seeks to preserve the heritage and identity of each of its Maisons. At the same time, we are committed to innovation and designing new products which are in keeping with our Maisons’ values, through a process of continuous creativity.

MAIN PURPOSE

The Compliance Officer in Richemont UAE is part of the Richemont Finance Department. The primary role purpose is to be the MRLO responsible for the Anti-Money Laundering compliance and ensures it complies applicable laws and regulations. In addition, the Compliance Officer will support the implementation of the Group’s wider compliance policies and procedures.


KEY RESPONSIBILITIES

  • Register as a MLRO and oversee the company anti-money laundering policies, procedures, regulatory compliance, DFSA systems and controls, and ensure compliance with Anti-Money Laundering legislation applicable. Be the key point of contact for all Anti-Money Laundering and any other relevant topics as well as ensuring that group Anti-Money Laundering policies, procedures, systems, and controls are in line with DFSA's legislation requirements with the aim to follow the international requirements in this sector.
  • Incorporate and establish all new procedures and processes, including the management of the application and performing the reviews for Registration Authority’s approval. Ensure the implementation and update of the Compliance Monitoring Program, Compliance manual, Anti‐Money Laundering policies and procedures, and systems and controls, Client asset procedures in compliance with applicable regulations on a regular basis.
  • Ensure timely submissions of all requested documents and reporting as per Government’s deadlines and requests. Coordinate the preparation of the Annual AML Return and ensure that it is submitted to the DFSA on time.
  • Create the Compliance manuals and documents under the regulatory requirements from UAE laws, UAE Central Bank, ADGM, DIFC, Finance Intelligence Center (FIC) and UAE Financial Intelligence Unit (FIU).
  • Effectively and efficiently manage the daily operations of the company from a compliance perspective with a strong focus on Anti-Money Laundering.
  • Conducting due diligence reviews of new accounts, clients (KYC policy) including PEP, and ensure adequate completion of periodical reporting.
  • Maintaining PEP list and ensure that PEP list is properly communicated, reviews are conducted diligently, and any adverse news/significant inflows/outflows are recorded with its relevant mitigating controls. Conduct screening of existing and new customers against relevant sanctions list. Ensure that sanctions regulations are updated and provided to all stakeholders.
  • Stay up to date with any new regulatory developments locally and internationally.
  • Maintain the GoAML government portal and ensure that the database is updated and dully completed by the relevant stakeholders (boutiques and brands).
  • Prepare training material and perform regular training on Anti-Money Laundering to all employees.
  • Support the Group’s implementation of wider compliance policies and procedures.
  • Reporting lines
  • Report to Regional Finance Operations Manager
  • Work closely with Finance Operations Controllers, Senior Insurance & License Specialist, UAE government AML entities and Ministry of Economy
  • Liaise with local Brands teams (office and boutiques) on daily operational matters and on process improvements
  • Work closely with the Group’s central Legal & Regulatory Compliance function.
TARGET PROFILE

Education

  • Bachelor's degree or equivalent in Finance, Economics or Business Administration or law

Experience

  • Minimum 3 years’ experience in a similar field
  • Experience in Compliance and AML in financial institutions is preferred
  • Retail experience is a plus

Technical skills / abilities

  • AML or compliance certify
  • Knowledge of local & regional financial services regulations DFSA/DIFC, ADGM is a plus
  • Strong corporate governance experience
  • Good analytical and critical thinking skills

Competencies

  • Excellent communication skills, fluent in English, Arabic is a must
  • Able to build partnerships and work well in teams
  • Able to work well under pressure in a complex & fast-changing multicultural environment
  • Can identify problems and refer/escalate complex issues to a higher level
  • Can generate creative solutions and has the courage to make necessary decisions
  • Multi-tasker, with the ability to meet changing deadlines, and to prioritize and handle multiple projects.

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